Savory Thymes, Inc

question 159

Multiple Choice

Savory Thymes, Inc. had net credit sales of $9,000,000 and cost of goods sold of $5,250,000 for the year. The average inventory for the year amounted to $1,250,000. The inventory turnover for the year is

• A) 7.2 times.
• B) 5.6 times.
• C) 5.2 times.
• D) 4.2 times.

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Definitions:

Medical Practice

The profession or business of providing healthcare services, including diagnosis, treatment, and prevention of diseases and ailments by healthcare professionals.

Medical Assistant Duties

Tasks performed by a medical assistant, ranging from administrative work like scheduling appointments to clinical tasks such as taking patient vitals.

Clinical and Administrative Duties

Tasks in healthcare that include both direct patient care (clinical) and office-based work (administrative), such as record-keeping and scheduling.

AAPC Certification

A professional certification for healthcare coding and billing professionals granted by the American Academy of Professional Coders.